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Punjab: Vardhman announces ₹2,500-cr greenfield steel plant in Ludhiana
The project to be set up in a joint venture with Aichi Steel Corporation (ASC), Japan, was announced by VSSL vice chairman and managing director Sachit Jain in the presence of industries and commerce minister Sanjeev Arora at a press conference here.
Vardhman Special Steels Limited (VSSL) on Thursday announced a new ₹2,500 crore greenfield special and alloy steel plant in Ludhiana district.
The project to be set up in a joint venture with Aichi Steel Corporation (ASC), Japan, was announced by VSSL vice chairman and managing director Sachit Jain in the presence of industries and commerce minister Sanjeev Arora at a press conference here. ASC is a world leader in special steel for automotive applications. Arora said that the plant, having an installed capacity of 5 lakh tonnes per annum, would reflect the commitment to establish a sustainable, technologically advanced, and globally competitive steel manufacturing facility in the state.
Arora said the plant would cater to both domestic and global automotive requirements. The production through the electric arc furnace route would ensure energy efficiency, reduced carbon emissions, and clean steel production. The minister said that the project would provide direct employment to 1,500 people, besides significant indirect employment. Jain informed that a solar power plant will also be set up with an outlay of ₹500 crore capex to meet energy requirements. This investment of ₹500 crore is over and above the estimated cost of the greenfield plant of ₹2,000 crore, he added.
The VSSL vice chairman stated that focus would be on producing green steel through the melting of steel scrap by using energy-efficient technologies and the utilisation of renewable energy, which aligned with global sustainability practices and India’s net zero vision. “It will reduce dependence on fossil fuels and minimise carbon footprint,” he added. The plant would be developed on the Toyota way layout, ensuring operational excellence, safety, efficiency, and world class plant layout. Secretary, industries and commerce, Kamal Kishor Yadav, was also present.
